Patrick Wee B.Sc. CCMFP - Seedly
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Patrick Wee B.Sc. CCMFP

Real Estate agt & Pty investor since 1988. I Stay invested in Pty as I believe in selling what I would invest in myself

Patrick Wee B.Sc. CCMFP

Sales person at A Local Real Estate Co

About

Real Estate agt & Pty investor since 1988. I Stay invested in Pty as I believe in selling what I would invest in myself

Credentials

Sales person at A Local Real Estate Co

Patrick Wee B.Sc. CCMFP

Sales person at A Local Real Estate Co

  • Answers (2)
  • Questions (0)
  • Reviews (0)

Investments

Property

REITs

SeedlyTV S1E05

Property investing Ads that claim that one can buy and own more than 30 properties with little or no money down. Possible? If yes, how can one do so, and what are the pitfalls of doing so?
I would suggest to “invest” in your own home rather than rent. And if you can still live / leech with parents or siblings or friends & relatives, and rent out your “investment” you will slowly be able to grow your nest egg. Till you can truely afford to live in that “investment” Then decide if you wish to or go ahead to invest in a 2nd one while still leeching on. however, do own homework as owning a HDB comes with all sorts of T&Cs. They are also not a “gteed” money spinner as they used to be. Most NEW BUCs including HDB properties increase in value most between the 6th to 9th year. While resale HDBs tend to have decreased in value over the last 6yrs across almost all estates
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SeedlyTV S2E08

CPF

AMA 1M65

Savings

Is 1M65 really that desirable? I would rather have $1M cash than have the government give $5k~ monthly payouts till I die (in which I may not even receive the full sum). What are your thoughts?
Patrick Wee B.Sc. CCMFP
Patrick Wee B.Sc. CCMFP
Level 2. Rookie
Updated on 29 Jun 2020
Like u I avoid putting $ into CPF due to it’s illiquidity. Except for the min amount into MA. BUT the accrued interest (AI) is still your money... so even if you use your CPF to buy a property, it’s fine when the incoming funds from the sale covers the outstanding loan and AI ie +ve sale It goes into your OA and can be reused to purchase your new property. Only sucks when you don’t have enough to buy the replacement property due to inflation or price increases. Or sell 1 buy 2 (2nd being an investment which gives you a passive income) or live in one and pass the 2nd to your child(ren) when the time comes and if you have 2 kids. Each can inherited 1 as it would get harder for them to buy their own if not for your help and yeah, you can’t touch it otherwise, maybe except children’s education etc
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Level 2. Rookie
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